AQR Capital Management LLC Has $5.49 Million Holdings in Alamo Group, Inc. $ALG

Key Points

• AQR Capital Management LLC increased its stock holdings in Alamo Group, boosting its position by 47.4% during the first quarter, resulting in ownership of approximately 30,779 shares valued at $5,485,000.
• The CEO, Jeffery Allen Leonard, recently sold 2,500 shares of Alamo Group for roughly $555,475, representing a 6.11% decrease in his ownership position.
• Several analysts have upgraded their ratings on Alamo Group, with a consensus rating of "Buy" and an average price target of $234.00 following strong revenue performance in the last quarter.

AQR Capital Management LLC increased its holdings in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 47.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 30,779 shares of the industrial products company's stock after purchasing an additional 9,898 shares during the period. AQR Capital Management LLC owned 0.25% of Alamo Group worth $5,485,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALG. Ameriprise Financial Inc. boosted its holdings in shares of Alamo Group by 338.4% during the fourth quarter. Ameriprise Financial Inc. now owns 115,856 shares of the industrial products company's stock worth $21,539,000 after acquiring an additional 89,430 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Alamo Group by 34.3% during the fourth quarter. BNP Paribas Financial Markets now owns 8,109 shares of the industrial products company's stock worth $1,508,000 after acquiring an additional 2,069 shares during the period. Bank of America Corp DE boosted its holdings in shares of Alamo Group by 826.1% during the fourth quarter. Bank of America Corp DE now owns 130,494 shares of the industrial products company's stock worth $24,260,000 after acquiring an additional 116,404 shares during the period. Deutsche Bank AG boosted its holdings in shares of Alamo Group by 46.4% during the fourth quarter. Deutsche Bank AG now owns 8,947 shares of the industrial products company's stock worth $1,663,000 after acquiring an additional 2,835 shares during the period. Finally, Gotham Asset Management LLC bought a new stake in shares of Alamo Group during the fourth quarter worth approximately $674,000. Institutional investors own 92.36% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Alamo Group from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. DA Davidson reiterated a "neutral" rating and issued a $225.00 price target on shares of Alamo Group in a research report on Tuesday, July 22nd. Baird R W upgraded shares of Alamo Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Finally, Robert W. Baird upgraded shares of Alamo Group from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $209.00 to $260.00 in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $234.00.

Alamo Group Price Performance

Shares of NYSE ALG traded down $1.93 during midday trading on Wednesday, reaching $203.38. 28,674 shares of the company were exchanged, compared to its average volume of 107,488. The stock's 50-day moving average price is $217.51 and its 200-day moving average price is $200.22. Alamo Group, Inc. has a one year low of $157.07 and a one year high of $233.29. The stock has a market cap of $2.46 billion, a P/E ratio of 20.70, a PEG ratio of 1.07 and a beta of 1.10. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18.

Alamo Group (NYSE:ALG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.57 EPS for the quarter, missing analysts' consensus estimates of $2.69 by ($0.12). Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. The company had revenue of $419.07 million during the quarter, compared to the consensus estimate of $406.75 million. On average, sell-side analysts anticipate that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 16th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, July 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. Alamo Group's dividend payout ratio is 12.22%.

Insider Buying and Selling

In other Alamo Group news, CEO Jeffery Allen Leonard sold 2,500 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total transaction of $555,475.00. Following the sale, the chief executive officer owned 38,413 shares of the company's stock, valued at approximately $8,534,984.47. This represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.18% of the company's stock.

Alamo Group Profile

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor - and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.